Legal persons become 2.7% more

Baku/16.04.14/Turan : In the first quarter of this year 2,388 entities were established in Azerbaijan. From the beginning, the number of legal entities increased by 2.7% and reached 88,348, the State Statistics Committee told Turan.

The SSC first unveiled the total number of registered commercial entities: on the first of April this year , the number was 72,671 . Neither SSC, nor the Ministry of Taxes (State Agency for Registration of Commercial Legal Entities) provides data on the number of operating companies.

Analysis of public records released by commercial entities showed that over the past six months, most listed companies are established by the same persons and one and the same person establishes 100 companies in various areas of the country and directs them himself. Extensive analysis of this phenomenon was done by Turan two months ago. However, the government has not responded to the publication.

Unlike many developed and neighboring countries in Azerbaijan information about the founders and the share distribution of shares in commercial companies is considered confidential. From June 2012 to the legislation , including the Law "On Commercial Secrets" included the appropriate changes.

Since January 2008, in Azerbaijan the registration of commercial entities is done on a "single window". One of the purposes of this principle is to encourage the functioning of commercial entities in legal form. However, this did not happen . Entrepreneurs still prefer to work without creating a legal entity. Only in the first quarter of this year, there were 19,865 individuals engaged in entrepreneurial activity.

According to the Tax Ministry, in the first quarter of this year were registered just 22,239 subjects of taxation . On April 1, the total number of taxpayers was 556,862 . - 08D-